Exam 1: The Rise of Globalization

National laws aimed at maintaining competition in all sectors of the economy and preventing monopolistic behavior of firms are called _______.

_______ refers to a fundamental global shift in which industrialized country-dependent developing economies begin to grow based on their own underlying economic strengths rather than the ups and downs of the world's richest countries.

The rules, enforcement mechanisms, and organizations that support market transactions are referred to as _____.

The openness and proliferation of globalization and free trade rules can best be attributed to the interwar period between World War I and II.

The perceived economic gap between countries or people with easy access to digital and information technology (and its benefits)and those with very limited access, or none at all refers to the ________.

GATT refers to which of the following?

Which of the following is NOT true regarding results from a survey by the World Bank on corporate social responsibility (CSR)?

The most recent device(s)that enables greatest ease in portability and accessibility of information is (are)the _____.

The rules, enforcement mechanisms, and organizations that support market transactions are called ______.

Scenario - The Everline Corporation The Everline Corporation is a multinational business that provides state-of-the-art digital communication capabilities to its global customers. Originally operating as a U.S. domestic business based in Duluth, Minnesota, Everline quickly seized on the opportunity provided by international expansion. Within two years, the corporation had expanded into fourteen foreign nations found throughout the Middle East, Europe, Asia, and South America. Everline understands the vital importance of offering effective and affordable communication products to its customers. It realizes the value consumers place on being able to communicate with businesses without delays or hassles. The corporation recognizes its customers need to quickly and efficiently communicate with others in the global marketplace of today. Fueled by its staff of innovative and highly skilled communication engineers, the future for Everline looks more and more promising. Communication needs around the globe continue to grow and this business stands ready to fill the demand. With net profits expected to reach one billion dollars in the next year, this company is decidedly reaping the rewards of its hard work. -There is a perceived economic gap among the various foreign customers of the Everline Corporation. This is thought to be mainly the result of the level of access or lack thereof to modern digital information technologies experienced within these individual countries. Considering this perceived economic gap, Everline's operations may be experiencing influence identified as which of the following?

So far globalization has made it possible for goods, services, and capital, to cross national borders but not technology and culture.

Identify and explain the characteristics of strong institutional structure necessary to adapt to globalization.

The International Center for the Settlement of Investment Disputes performs which of the following functions?

The only way workers in industrialized countries can compete with their counterparts in the developing world will be through:

Which of the following is NOT true regarding property rights?

Even though business is global, the credit crisis of 2008, started by an American investment bank, was limited to the American economy with fortunately no impact on the global economy.

Scenario - The Renna Company Established in 1956, the Renna Company has always maintained its operations within the boundaries of the United States. Originally based in Lexington, Kentucky, this company has now expanded operations into thirteen other U.S. states. While it's inexpensive and efficient cooling and heating products are in high demand even in foreign markets, this company contends it has no desire for international expansion. Conducting operations strictly within the U.S. borders does not appear to have limited this company overly much. It realized net profits of two billion dollars last year and provided gainful employment for over four thousand workers. The leaders of the Renna Company realize greater profits could be attained through international expansion. However, they stand in agreement when they state, "It is not always the money that best defines the worth of an organization." The company desire to stay true to its mission statement, which claims, "It will serve the marketplace of the United States with its superior products and provide job opportunities with a fair wage for its employees." The Renna Company is very proud of its products and enjoys the fact they are produced and sold in the United States of America. This company truly reflects the success possible when holding to the fact that "Made in America" is still a winner. -The Renna Company has a clear understanding of the benefits of economic development. Economic development which meets the needs of the present generation without compromising the ability of future generations to meet their own needs, whether environmentally, socially or economically is best identified as which one of the following?

Scenario - T & M Computers Thomas Benson and Matthew Roderick started a small computer business ten years ago in Rapid City, South Dakota. Armed only with determination and innovative designs, Thomas and Matthew were driven to achieve success for their company, T & M Computers. Their hard work has indeed, paid off. Since the inception of the company, the two owners have watched their business grow and demand for their products increase. Four years ago due to this high product demand, they went international with their business operations. Thomas and Matthew now have international business operations in Singapore, France, Turkey, and Great Britain. Further operational expansion is anticipated within the next year and the company plans to begin operations in Spain, Greece, and Italy. The owner's hard work and dynamic ideas have proven quite profitable for the company. Thomas and Matthew are pleased with how their operation has grown into becoming a major international business worthy of competing with Intel and Microsoft. T & M Computers may well be the next giant recognized in the field of computer software. -T & M Computers plans to begin operations in areas that recently needed financial assistance and undergone certain levels of reconstruction and reorganizing to their economies. Which organization listed below is most likely to have played an integral part in this?

Present the arguments against globalization. Do you agree or disagree with them? Support your position using examples.

India and Brazil have been moving towards more open trade and free market policies. These countries can be described as